Multiple Choice
Which one of the following statements is true? Misstatements found in the previous year's audit:
A) that occur again in the current year's audit indicate management fraud.
B) have little likelihood of occurring again in the current year's audit.
C) have a high likelihood of occurring again in the current year's audit.
D) that occur again in the current year's audit indicate employee fraud.
Correct Answer:

Verified
Correct Answer:
Verified
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Q5: When setting a preliminary judgement about materiality
Q6: Likely misstatements arise from:<br>A) the auditor's estimate
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